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East Africa is the fastest-growing economic region on the continent. In 2022, Uganda, Kenya and Tanzania attracted over USD13.3 billion worth of foreign direct investment (FDI). This is according to the latest investment report by the business advisory firm Ernst & Young. The report singled out Uganda as having received USD10.2 billion — the highest in East Africa — creating 6,300 jobs. However, a refusal by a Ugandan Commercial Court to respect and enforce a London Court of International Arbitration (LCIA) ruling has turned on the stage lights onto Uganda’s investment climate and may position the country in a bad…
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Uganda’s National Social Security Fund (NSSF), MTN Uganda’s second-largest shareholder has welcomed the just-released 2021 MTN Uganda results as impressive and said that the declared dividend is timely. In an online interview with CEO East Africa Magazine, Richard Byarugaba, the Managing Director of NSSF said: “Impressive subscriber growth (mobile subscribers – 10.7% to 15.7M), and double-digit growth in key segments (data and mobile money) coupled with operational efficiencies contributed towards a 14% growth in operating earnings. The dividend declared and due for approval and payment is a plus for investors given the challenging times.” With 8.84% shares, NSSF is MTN…
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